US Senate Set to Vote on a Sweeping Energy Bill

April 19, 2016 | posted by The Institute

Bipartisan Energy Bill Gets Second Chance in Senate:

In a rapid turn of events, the bipartisan “Energy Policy Modernization Act” went from the legislative dustbin to an upcoming Senate floor vote. And not a moment too soon, considering the unexpectedly rocky road the bill embarked on since it was first introduced.

In February, the Senate took up the bipartisan bill, introduced last summer by Senate Committee on Energy and Natural Resources Chairman Lisa Murkowski (R-Alaska) and Ranking Member Sen. Maria Cantwell (D-Wash.), that would modernize our nation’s energy policy for the first time since 2007.

Yet the bill -- on track to pass owing to strong support on both sides of the aisle -- was derailed when a small group of senators objected because of an impasse over funding for the Flint, Michigan water crisis and other separate policy initiatives.

Global Electric Car Sales on the Rise:

After four years of steady growth, U.S. plug-in electric car sales were essentially flat last year. Low gas prices and increased demand for SUVs had a dampening effect on the segment, which still accounts for a very small fraction of U.S. new-car sales.

However, in other parts of the world, it was a different story.

French Solar Capacity to Nearly Triple by 2023:

A French consultive industry body, the Conseil Superieur de l'Energie (CSE), has increased draft government targets for renewable energy.

The French government will publish the decree in a few weeks’ time, outlining ambitious renewable energy proposals that include solarcapacity to nearly triple and onshore wind capacity to more than double by 2023. The energy law also stipulates that 40% of French power should come from a renewable source by 2030.

AEP Sharing Data With Potential Power Plant Buyers, CEO Says

American Electric Power Co. Inc., which hired Goldman Sachs Group Inc. last year to advise on the possible sale of assets in the U.S. Midwest, opened up confidential data to potential buyers, a step that may indicate the company’s closer to a decision on the package of plants.

The Columbus, Ohio-based company has “done a lot of things with confidential data rooms” and believes there are buyers interested in the plants, capable of producing about 5,000 megawatts, Chief Executive Officer Nick Akins said in an interview at Bloomberg’s headquarters in New York. Opening up so-called data rooms allows potential purchasers to review private financial information while agreeing not to disclose it.